• Cardano’s (ADA) price is expected to surge 2,985%, reaching $8.95 in the next year.
• On-chain data reveals that whales are keeping faith in ADA despite its lukewarm performance.
• Binance recently announced plans to delist ADA and MATIC perpetual contracts on August 17.
Cardano Poised for a Massive Rally
Crypto influencers and Finbold news have created a stir as they discuss the potential of a massive rally for Cardano’s (ADA) price, similar to the 2,985% breakout between 2018 and 2020. On-chain data confirms an increase in big addresses holding ADA, signaling interest from ‘whales’.
Historical Data Hints at Bullish Potential
Ali Martinez (@Ali_charts), noted that from 2018 to 2020, ADA oscillated between $0.10 and $0.028 for 665 days before skyrocketing with a 2,985% gain – hinting at an impending surge past the current range of $0.46 – $0.24 it has been stuck in for 329 days now.
Current Performance of ADA
Currently trading at around $0.29, without much movement over the past day, it has had an impressive YTD growth of 16%. However, this comes with some concern as it experienced a 17% decline over the past month eroding its market cap by $1.6 billion .
Binance Delisting Perpetual Contracts
Adding to its current events , Binance announced plans to delist ADA and MATIC perpetual contracts on August 17 following SEC lawsuits which classified these cryptocurrencies as securities .